In a significant move within the digital realm, heavy steel band Avenged Sevenfold has extended its foray into Web3, introducing “Time Go,” a decentralized fan rewards platform. This initiative comes as the culmination of the band’s Web3 endeavors, which began with their own line of Deathbats NFTs and token-gated ticket sales in collaboration with Ticketmaster.
Time Go: Rewarding Fan Engagement
Frontman Matt Sanders, known as M. Shadows, outlined the concept behind Time Go, explaining that gradually exposing fans to the benefits of Web3 turns them into advocates for it. Sanders described how fans become evangelists for Web3 as they attend other concerts or engage with communities of artists they admire. By showcasing both the positives and negatives of Web3, including issues like crypto wallet security, Avenged Sevenfold aims to foster a balanced understanding among fans, allowing them to spread awareness organically.
Evolving Fan Engagement through Time Go
Built on the Ethereum scaling network Polygon, Time Go incentivizes fans to participate in various activities related to the band, such as redeeming digital tickets, streaming music, and purchasing NFC-chipped merchandise. These actions earn fans points that unlock tiered rewards, ranging from digital collectibles to exclusive merchandise discounts and previously unreleased demo tracks. The highest tier offers perks like complimentary concert tickets and meet-and-greet opportunities, catering to the band’s most dedicated followers.
Decentralized Ownership and Fan Empowerment
One notable aspect of Time Go is that all rewards are distributed on a decentralized platform, granting fans rightful ownership and the ability to trade rewards on third-party marketplaces. Sanders emphasized that Avenged Sevenfold’s established goodwill with their fanbase facilitated this transition and allowed them to introduce innovative concepts with confidence.
Pioneering Web3 Adoption in the Music Industry
Sanders highlighted the role of established bands like Avenged Sevenfold in driving Web3 adoption in the music industry. He believes that alongside emerging artists whose supporters are accustomed to crypto, veteran bands play a crucial role in reshaping the music business for the Web3 era. Despite initial skepticism and challenges, Sanders sees Avenged Sevenfold as trailblazers willing to explore the potential of Web3 for the benefit of both musicians and fans.
Challenges and Opportunities Ahead
Acknowledging the skepticism surrounding NFTs and Web3, Sanders admitted that some artists remain hesitant to embrace the technology. However, he urged artists to confront these challenges head-on and emphasized the importance of leading by example. Avenged Sevenfold, he noted, is willing to challenge the status quo and demonstrate the tangible benefits of Web3 for artists and their audience.
Shaping the Future of Music with Web3
Sanders concluded by expressing the band’s commitment to leveraging Web3 to create a better digital landscape for artists and fans alike. Rather than resting on their laurels, Avenged Sevenfold aims to pioneer meaningful change and inspire others in the music industry to explore the potential of Web3.
In summary, Avenged Sevenfold’s Time Go initiative represents a bold step towards redefining fan engagement and artist-fan relationships in the Web3 era, setting a precedent for innovation and empowerment within the music industry.